Texas Bank Wins OCC Charter to Challenge Wall Street on…

United Texas Bank (UTB) has completed a conversion from a Texas state charter to a full national bank charter approved by the Office of the Comptroller of the Currency — one of the first such conversions since Dodd-Frank passed 15 years ago. The Dallas-based institution, which already clears roughly $10 billion a month in U.S. dollar volume for global crypto firms, now holds the same federal licensure and direct Federal Reserve wire and ACH access as money-center giants like JPMorgan Chase and Bank of America.

CEO Scott Beck framed the move as a deliberate challenge to Wall Street's cautious entry into digital assets. UTB has been quietly servicing crypto firms for five years — handling over $120 billion in annual transactions — while major banks have remained reluctant to open accounts for digital asset businesses.